Mumbai, Dec. 24 -- Benchmark stock index BSE Sensex slipped by 42 points in a volatile trade on Tuesday following profit-taking in IT and pharma shares and mixed global cues. Snapping the two-day gaining streak, the 30-share BSE Sensex dipped 42.64 points or 0.05% to settle at 85,524.84. The index moved in a range during the day, hitting a high of 85,704.93 and a low of 85,342.99. The 50-share NSE Nifty closed marginally up by 4.75 points or 0.02% to 26,177.15. Metals, FMCG and energy shares witnessed buying interest, while IT and pharma saw selective pressure. Among Sensex firms, Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti were the major laggards. However, ITC, UltraTech Cement, Tata Steel and HDFC Bank were among the gainers. "The domestic market traded in a narrow range and ended flat amid mixed global cues. Selling pressure persisted across most sectors, though financials and FMCG offered marginal support. "Going forward, investors are positioning for the next earnings season and monitoring evolving Fed policy expectations, as rate cut probabilities are slowly inching up for the January meeting," Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE smallcap index climbed 0.38% and midcap gauge went up marginally by 0.07%. Among sectoral indices, IT declined by 0.71%, followed by BSE Focused IT (0.70%), realty (0.21%), consumer durables (0.10%). However, BSE commodities climbed 0.68%, followed by utilities (0.59%), metal (0.52%), power (0.40%), financial services (0.36%) and energy (0.36%)....